Spain

Evaluating the market in Spain

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

Open

What this means:

Actively pursuing business

All EDC solutions are available in this market, subject to regular approval criteria

How does EDC determine the position?

EDC takes the following into account when determining the position in a given market:

Government of Canada restrictions

Political, human rights and corruption risks

Other factors that may be taken into consideration are: size of the economy, diversification of the economy, risk of natural disasters

Risk Rating

Low Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.

Business environment in Spain

In 2017, Spain was Canada’s ninth largest merchandise export market in the European Union (EU) with total Canadian exports reaching CAD 1.6B. Canada and Spain have an established and growing trade and investment relationship despite Spain’s low emergence out of the EU financial crisis in 2010. Trade is of high importance to Spain and the potential for Canadian companies is strong given the size of the market. Priority sectors include ICT, infrastructure (power generation, rail, roads) and renewable energy and aerospace. Spain’s economy remains strong and is set to continue outperforming its regional peers. Solid growth will be driven by improving domestic demand amid strong labour market performance and positive sentiment and improving credit conditions. Canadian exports to Spain will continue to get a boost after the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) comes into effect.